Sunday, July 24, 2011
Trend week up - or down?? ChartsEdge forecasts for equities and gold, 7/25/11 week
The situation seems ripe for a trend week ... and Mike Korell's thinking upward (contrary to his indicators), but if there's an inversion then look for the trend to be down instead. That would start with Monday testing up and reversing down (and continuing down the rest of week, the opposite of Mike's primary forecast in the charts for equities below. Maybe gold would also remain the opposite of stocks - we'll see. Maybe trading away from Monday's range will be the ticket... Remember that these stock market and gold forecasts from Mike Korell's ChartsEdge are mainly a guide for highs and lows, not necessarily absolute price levels. While the month- and quarter-ahead guidance, along with day-ahead forecast charts, are reserved for subscribers, the week-ahead set is shared publicly, see below (thanks again, Mike!). ChartsEdge also incorporates data on solar cycles, geocosmics and geomagnetics. Their forecasts come in several types for subscribers using not just computer-analyzed cycles but also beta (and sometimes alpha) wave-based charts and pattern recognition forecasts. There's additional info on that at his website (and some is also at my "UBTNB3" blog), see links above and at the right side of the page here.